Nanshan Aluminium International Holdings Limited (HK:2610)
:2610
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Nanshan Aluminium International Holdings Limited
(2610)
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Rating:62Neutral
Price Target:
HK$41.00
▼(-17.44% Downside)
Action:ReiteratedDate:04/29/26
The score is supported primarily by strong financial quality (high margins and a very low-leverage balance sheet), but is held back by weak technicals (bearish trend and momentum) and cash-flow concerns (negative 2025 free cash flow and volatility). Valuation contributes limited support due to an uninformative P/E input and only a modest dividend yield.
Positive Factors
High Profitability
Sustained high gross and net margins indicate durable pricing power and cost structure advantages in aluminum operations. High margins create persistent operating cash generation potential, buffer earnings through commodity cycles, and allow reinvestment or shareholder returns without relying on leverage.
Negative Factors
Negative Free Cash Flow
Negative free cash flow despite high reported profits suggests heavier capex or working-capital strain, weakening the company's ability to self-fund growth or returns. Persistent or recurring FCF deficits raise questions about earnings quality and financial flexibility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Sustained high gross and net margins indicate durable pricing power and cost structure advantages in aluminum operations. High margins create persistent operating cash generation potential, buffer earnings through commodity cycles, and allow reinvestment or shareholder returns without relying on leverage.
Read all positive factors
Nanshan Aluminium International Holdings Limited (2610) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$24.94B
Dividend Yield1.46%
Average Volume (3M)1.06M
Price to Earnings (P/E)―
Beta (1Y)0.14
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees3,282
SectorBasic Materials
Sector Strength58
IndustryAluminum
Share Statistics
EPS (TTM)N/A
Shares Outstanding620,435,200
10 Day Avg. Volume1,204,770
30 Day Avg. Volume1,063,610
Financial Highlights & Ratios
PEG Ratio1.47
Price to Book (P/B)1.89
Price to Sales (P/S)3.09
P/FCF Ratio-108.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$64.79Price Target Upside30.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Nanshan Aluminium International Holdings Limited Business Overview & Revenue Model
Company Description
Nanshan Aluminium International Holdings Limited, an investment holding company, engages in the production and sale of alumina in Southeast Asia. The company offers alumina, including aluminium hydroxide. It also engages in management consultation...
How the Company Makes Money
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Nanshan Aluminium International Holdings Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
94
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.19B | 1.14B | 1.02B | 677.78M | 466.78M | 172.84M |
| Gross Profit | 641.92M | 478.69M | 516.69M | 197.67M | 112.07M | 44.80M |
| EBITDA | 680.26M | 546.47M | 557.55M | 192.23M | 147.66M | 64.79M |
| Net Income | 539.33M | 409.03M | 401.81M | 122.67M | 67.69M | 28.46M |
Balance Sheet | ||||||
| Total Assets | 2.08B | 2.25B | 1.72B | 1.44B | 1.28B | 1.20B |
| Cash, Cash Equivalents and Short-Term Investments | 539.95M | 400.07M | 454.15M | 254.86M | 230.92M | 228.43M |
| Total Debt | 146.00K | 79.99K | 214.00K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 235.54M | 349.58M | 426.28M | 168.32M | 286.61M | 196.92M |
| Stockholders Equity | 1.80B | 1.86B | 1.26B | 918.80M | 720.87M | 730.13M |
Cash Flow | ||||||
| Free Cash Flow | 204.01M | -32.44M | 21.63M | 23.47M | 12.67M | -146.19M |
| Operating Cash Flow | 647.90M | 359.72M | 96.27M | 96.27M | 163.04M | -8.71M |
| Investing Cash Flow | -260.48M | -461.97M | -74.18M | -74.18M | -150.37M | -137.48M |
| Financing Cash Flow | 59.88M | -18.35M | 5.13M | 5.13M | -383.00K | 159.19M |
Nanshan Aluminium International Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$227.31B | 7.66 | 19.96% | 3.32% | 1.76% | 2.25% | |
70 Outperform | HK$340.16B | 12.62 | 24.18% | 5.10% | 3.98% | 0.89% | |
62 Neutral | HK$24.94B | ― | 25.82% | 1.46% | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | HK$817.42M | 7.07 | 6.88% | ― | 15.05% | -45.24% | |
58 Neutral | HK$3.13B | 4.60 | 10.28% | 8.68% | 9.91% | -23.35% | |
42 Neutral | HK$142.73M | -2.68 | -0.58% | ― | -60.77% | -310.68% |
* Basic Materials Sector Average
HK:2610
Nanshan Aluminium International Holdings Limited
40.20
16.08
66.67%
HK:2600
Aluminum of China
11.88
7.90
198.72%
HK:0098
Xingfa Aluminium Holdings Ltd.
7.43
0.38
5.39%
HK:1378
China Hongqiao Group Ltd.
34.28
21.25
163.09%
HK:2078
PanAsialum Holdings Co. Ltd.
0.12
>-0.01
-0.83%
HK:0505
Xingye Alloy Materials Group Limited
0.91
-0.08
-8.08%
Nanshan Aluminium International Holdings Limited Corporate Events
Nanshan Aluminium International flags unaudited Q1 data and sharp alumina price slump
Apr 27, 2026
Nanshan Aluminium International Holdings Limited disclosed inside information that its controlling shareholder, Shandong Nanshan Aluminium Co., Ltd., has released unaudited first-quarter 2026 results prepared under Chinese accounting standards, wh...
Nanshan Aluminium International Sets AGM to Approve 2025 Results, Dividend and Share Issue Mandate
Apr 23, 2026
Nanshan Aluminium International Holdings has called its annual general meeting for 5 June 2026 in Singapore, where shareholders will review the audited financial statements for 2025, vote on the re-election of four directors, approve directorsR...
Nanshan Aluminium Plans Governance Revamp for Digital Shareholder Participation
Apr 16, 2026
Nanshan Aluminium International Holdings Limited, incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange, operates under Hong Kong’s listing rules and maintains a board structure that includes executive, non-executive ...
Nanshan Aluminium Sets Formal Governance Framework for Audit Committee
Mar 26, 2026
Nanshan Aluminium International Holdings Limited has formally adopted detailed terms of reference for its audit committee, aligning its governance framework with Hong Kong Listing Rules. The committee, established by the board in March 2025, must ...
Nanshan Aluminium Sets Nomination Committee Governance Rules
Mar 26, 2026
Nanshan Aluminium International Holdings Limited has formally adopted terms of reference for its Nomination Committee, a board committee responsible for director and senior management nomination matters. The committee, established in March 2025, m...
Nanshan Aluminium Sets Formal Terms for Board Remuneration Committee
Mar 26, 2026
Nanshan Aluminium International Holdings Limited has formally adopted terms of reference for its Remuneration Committee, clarifying the body’s role, composition and governance standards within the board structure. The document defines remune...
Nanshan Aluminium Posts Higher Revenue but Lower Margins, Resumes Dividend Payout
Mar 26, 2026
Nanshan Aluminium International Holdings Limited reported a rise in revenue to about US$1.14 billion for 2025, up 11.9% year on year, while gross profit fell 7.5% to US$478.0 million as the gross margin narrowed from 50.6% to 41.9%. Overall profit...
Nanshan Aluminium Sets March 2026 Board Meeting to Approve 2025 Results and Consider Dividend
Mar 9, 2026
Nanshan Aluminium International Holdings Limited has scheduled a board meeting for 26 March 2026 to review and approve the Group’s annual results for the year ended 31 December 2025 and to authorize their publication. The board will also con...
Nanshan Aluminium Flags Investor Caution on Press Metal’s Unaudited 2025 Results
Feb 26, 2026
Nanshan Aluminium International Holdings disclosed inside information that its substantial shareholder, Press Metal Aluminium Holdings, has released unaudited results for 2025 showing a significant share of profit from associates, with the group c...
Nanshan Aluminium Raises HK$1.99 Billion Through Share Placing and Top-Up Subscription
Jan 30, 2026
Nanshan Aluminium International Holdings Limited has completed a placing of 31 million existing shares and a top-up subscription of 31 million new shares under its general mandate, with the placing conducted on a best-effort basis to at least six ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.